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No IP policyholder reached lifetime claim limit since 2005

Since the inception of Medisave-approved Integrated Shield Plans (IPs) in 2005, no IP policyholder has reached his lifetime claim limit.

SINGAPORE: Since the inception of Medisave-approved Integrated Shield Plans (IPs) in 2005, no IP policyholder has reached his lifetime claim limit.

Health Minister Gan Kim Yong said this in a written reply to a Parliamentary question from Hougang Single-Member Constituency MP Png Eng Huat about the number of Singaporeans who are no longer insurable under MediShield or Medisave-approved Integrated Shield Plans.

This could be due to exhausted benefits and claim limits upon diagnosis of major illnesses.

Mr Gan said that the MediShield lifetime limit was increased in 2005, and more recently in March last year from S$200,000 to S$300,000.

The enhancement was made to provide protection for higher life-time claims, due to increases in life expectancy and accumulation of claims over time.

Mr Gan said his ministry will continue to monitor the trend in policyholders' cumulative claims, in relation to the adequacy of the new lifetime limit.

A review committee is studying the parameters for MediShield Life, including the lifetime limit, and is expected to present its recommendations for the ministry's consideration in mid-2014. 

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